Global Battery Metals Engages TonaTec Exploration LLC to Drill the Lithium King Property and Volt Strategic as Capital Markets and Communications Advisor and Announces Non-Brokered Financing
1
Global Battery Metals Engages TonaTec Exploration LLC to Drill the Lithium King Property
and Volt Strategic as Capital Markets and Communications Advisor
and Announces Non-Brokered Financing
July 14, 2022, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”)
(TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration and
development company focused on growth-oriented battery metal projects, is pleased to announce that it has
engaged TonaTec Exploration LLC (“TonaTec”) to drill the Lithium King Property (the “Property”). The
Company anticipates TonaTec to be in the field and on site at the Property by the end of the month. The
objective of drilling is to confirm the potential at depth of lithium bearing brines in the Soldura Salt flat
basin. A 600 m hole is planned.
Property Highlights:
• Historical lithium values from 39 shallow USGS wells (25 feet) averaged 244 parts per million
(ppm) and ranged from a low 49 ppm to a high of 1,200 ppm. The Property is within the Great
Basin of the Western United States, where lithium concentrations of greater than 10 ppm in brines
are anomalous. Lithium values from the only lithium production in the United States, in Clayton
Valley, Nevada, also in the Great Basin, range from 75 to about 250 ppm.
• Magnesium values at the Property and near vicinity range between 1,300 and 8,500 ppm.
• The shallow aquifer water samples may not reflect the deeper basin below 25 feet depth. Drilling
to targeted bedrock formations and brine sampling is needed to confirm the presence of and
concentration of lithium in the deeper basin brines.
• Based on the geophysical surveys and historical data, the area underlying the claims is interpreted
to be part of a Tertiary basin hosted in a g raben structure developed in the Paleozoic basement. .
This structural setting is believed to represent a conduit for basinal brine up-flow.
• Earlier this year, 32 -line km, over four lines, of ground magnetic was acquired over the claim
package and basement/basin boundary. The same lines were then surv eyed using ground gravity.
The work was done by Quantec and the results were inverted in 2D sections to help with basin
interpretation and test well targeting.
In addition, the Company is pleased to announce that, subject to the approval of the TSX Venture Exchange
(the “Exchange”), it has engaged Volt Strategic Partners Ltd. ("Volt Strategic") as its capital markets and
communications advisor and has entered into an agreement (the " Agreement") dated June 10, 2022, with
services effected July 5, 2022.
Volt Strategic works with investment professionals and senior business leaders to help grow organizational
value, build business, and accelerate market appreciation for emerging technology, battery metals,
sustainability, and life sciences public companies.
Pursuant to the Agreement, GBML will remunerate Volt Strategic a monthly fee of $9,000 for various
services, including but not limited to capital markets and communications advisory. The Agreement is for
a term of one (1) month. After one (1) month, either party may terminate th e Agreement with fifteen (15)
2
days' notice to the other. If not terminated at one (1) month, the Agreement shall automatically renew for a
further one (1) month period unless either party to the oth er delivers written notice of termination at least
fifteen (15) days at any time during the term.
Further, the Company announces a non-brokered private placement financing of up to 5,000,000 units of
the Company (the “Units”) at a price of 0.10 per Unit for aggregate gross proceeds of up to $500,000 (the
“Offering”).
Each Unit shall consist of one (1) common share in the capital of the Company (“Share”) and one (1) Share
purchase warrant (the “ Warrant”), whereby e ach Warrant shall be exercisable by the warrant holder to
acquire one (1) additional Share at a price of $0.14 for a period of twenty-four (24) months from the closing
of the Offering (the “Closing Date”) provided that, if the closing price of the Shares is greater than $0.30
for ten (10) consecutive trading days, the Warrants will expire thirty (30) days after the date on which the
Company provides notice of such fact to the holders thereof.
The proceeds from the Offering will be used by the Company primarily for working capital. The Offering
is expected to close in mid-August 2022.
In consideration of the introduction to the Company of investors in the Offering, finder's fee may be paid
in cash or in securities of the Company in accordance with applicable securities laws and Exchange policies.
Completion of the Offering will be subj ect to receipt of all necessary regulatory approvals, including
approval of the Exchange.
It is anticipated that insiders of the Company may participate in the Offering. Any such participation will
constitute a related party transaction as defined under M ultilateral Instrument 61 -101 - Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the
exemption from the formal valuation requirements of Section 5.4 of MI 61 -101 pursuant to Subsection
5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section 5.6 of MI 61 -
101 pursuant to Subsection 5.7(1)(a) of MI 61-101.
The securities issued in connection with the Offering will be subject to a statutory four-month hold period
under applicable Canadian securities laws commencing on the Closing Date.
Please see the Company's Lithium King Project Overview for additional program details, in addition to
the latest version of the Company’s Investor Presentation available for download from the GBML
website (www.gbml.ca).
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid
evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange and Frankfurt
Stock Exchange and quoted on the OTCQB. GBML currently has five projects: (1) an option to acquire up
to a 90% in the North -West Leinster lithium property in Ireland; (2) a 100% interest in the Lithium King
Property in Utah; (3) an option to acquire up to a 100% interest in the Lapoile lithium project in
Newfoundland; (4) an option to lease the Sawyer Camp prospective nickel-copper project in Michigan; and
(5) a 55% stake in Peru-based Lara copper property, which has over 10,000 meters of drilling. As previously
disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement (the “Lara Property
Option Agreement”) with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged
payments of USD$5.75 million. The Lara Property Option Agreement also provides for a 0.75% net smelter
royalty in favor of GBML.
3
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains certain "forward -looking information" and "forward -looking statements"
(collectively "forward -looking statements") within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein, without limitation, statements relating
the future operations and activities of the Company, are forward -looking statements. Forward -looking
statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”,
“intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events,
conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements
in this news release relate to, among other things, the Company’s exploration plans, including work being
conducted on the Company’s Lithium King Property in Utah, United States , the required regulatory
approval of the agreement with Volt Strategic Partners Ltd., and completion of the Offering, including the
receipt of any required regulatory approvals. There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward -looking statements reflect the beliefs, opinions, and projections on the date the
statements are made and are based upon a number of assumptions and estimates tha t, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance, or ac hievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward -looking statements and the parties
have made assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation, the ability to complete proposed exploration work given the global COVID -19
pandemic, the results of exploration, continued availability of capital, and changes in general economic,
market and business conditions. Readers should not place undue reliance on the forward-looking statements
and information contained in this news release concerning these items. Readers are urged to refer to the
Company's reports, publicly available through the Canadian Securities Admini strators' System for
Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion
of such risk factors and their potential effects. The Company does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except
as required by applicable securities laws.